5 Key Strategies to Succeed in GMP Cell Banking Services Market | 2023 – 2033
5 Key Strategies to Succeed in GMP Cell Banking Services Market | 2023 – 2033
According to a research report published by Spherical Insights & Consulting, The Global GMP Cell Banking Services Market Size is Expected to Grow from USD 832.1 Million in 2023 to USD 2812.3 Million by 2033, at a CAGR of 12.95% during the forecast period 2023-2033.
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GMP cell banking services refers to the production, characterization, testing, and storage of cell banks according to good manufacturing practices and regulations. Cell banks thus provided under GMP services must meet stringent quality and safety standards that guarantee their safe application in pharmaceutical, biotechnology, and clinical uses. Cell banks are used to generate precise cell line characteristics and to reduce cross-contamination. The term ‘cryopreservation’ refers to the conventional process of maintaining cell components. The frequency of cell samples that have undergone spontaneous cell division can be reduced through the cell banks. Furthermore, providing an economical alternative to continuously culturing cells, using cell banks reduces the cost of cell culture procedures. Cell banks are widely used in a variety of sectors such as stem cell research and pharmaceuticals. The global market for GMP cell banking services is expected to grow primarily due to the increasing demand for the technique and the global spread of rare medical conditions. However, the high costs, complex regulatory compliance, limited skilled professionals, logistical challenges, and technical constraints in cell preservation and quality assurance processes are restraints for expansion of market.
Browse key industry insights spread across 249 pages with 120 Market data tables and figures and charts from the report on the Global GMP Cell Banking Services Market Size, Share, and COVID-19 Impact Analysis, By Type (Mammalian, Microbial, Insect, Yeast, Avian, Stem Cell, and Others), By Applications (Biopharmaceutical Companies and Contract Manufacturing Organizations), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.
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In 2023, the mammalian segment is expected to hold the largest share of the global GMP cell banking services market during projected timeframe.
On the basis of the type, the global GMP cell banking services market is divided into mammalian, microbial, insect, yeast, avian, stem cell, and others. Among these, the mammalian segment is expected to hold the largest share of the global GMP cell banking services market during projected timeframe. The segmental growth due to its vast application in biopharmaceutical production, increased demand for complex biologics, and the suitability of mammalian cells for the production of human-like proteins and therapies.
In 2023, the biopharmaceutical companies’ segment is expected to hold the greatest share of the global GMP cell banking services market during the projected timeframe.
On the basis of the application, the GMP cell banking services market is divided into biopharmaceutical companies and contract manufacturing organizations. Among these, the biopharmaceutical companies’ segment is expected to hold the greatest share of the global GMP cell banking services market during the projected timeframe. This is due to biopharmaceutical companies being more dedicated to outsourcing due to its effectiveness in operation and pipeline productivity. Biotechnology companies and other private enterprises frequently select outsourcing over internal infrastructure development. Academic institutions and biopharmaceutical companies collaborate to commercialize innovation and gain expertise in drug discovery and development.
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North America is projected to hold the largest share of the global GMP cell banking services market over the forecast period.
North America is projected to hold the largest share of the global GMP cell banking services market over the forecast period. This is due to a well-established healthcare infrastructure, an advanced biopharmaceutical industry, high demand for personalized medicine, and significant investments in biotechnology and research. Favourable regulatory frameworks and strong market players in the region also contribute to its dominance.
Asia Pacific is anticipated to grow at a rapid CAGR growth of the global GMP cell banking services market during the forecast period. Asia Pacific is another important and profitable market region, with the majority of the region’s revenue coming from mammalian cell types. An increase in funding for rare disease research and development, along with related activities, is expected to propel the Asia Pacific market.
Major vendors in the global GMP cell banking services market are WuXi AppTec, Charles River Laboratories, Eurofins Scientific, Merck KGaA, Lonza, SGS Ltd, ViruSure, Austrianova, Goodwin Biotechnology, Paragon Bioservices, BioReliance, Sartorious, BSL Bioservice, Cleancells, and Covance.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In September 2022, FUJIFILM A world-renowned contract development and manufacturing organization (CDMO) for vaccines, biologics, and advanced therapies, Diosynth Biotechnologies, recently announced the expansion of its large-scale microbial manufacturing facility at its campus in Billingham, UK.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global GMP cell banking services market based on the below-mentioned segments:
Global GMP cell banking services market, By Type
- Mammalian
- Microbial
- Insect
- Yeast
- Avian
- Stem Cell
- Others
Global GMP cell banking services market, By Application
- Biopharmaceutical Companies
- Contract Manufacturing Organizations
Global GMP cell banking services market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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